The supply theory suggests that as the availability of fossil fuels diminishes or as their extraction becomes more costly, market forces will incentivize the development and adoption of alternative energy sources.
According to this theory, as fossil fuel reserves become scarcer or more expensive, the market will naturally shift towards renewable and cleaner energy sources.
The ability of the supply theory to moderate the need for restrictive environmental policies regarding fossil fuels relies on the assumption that market forces and technological advancements will drive the transition away from fossil fuels without significant intervention from government regulations.
If the theory holds true, the declining supply of fossil fuels would lead to higher prices, making alternative energy sources more economically competitive and attractive.
Evidence to support or contradict the supply theory can be observed over time through various indicators such as changes in energy consumption patterns.
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For this discussion, I want you to locate a job ad in your field of interest. I would suggest using Indeed, Monster, Career Builder, or another platform to locate the ad. Once you find it, read through and analyze the ad for language and what they are *really* looking for based on your understanding from this week’s readings and videos. Your discussion board post must include a link to the ad, what you believe the company is saying underneath the surface of their language in the ad, and a justification for your conclusions that includes direct quotation and references to the ad itself. Your post should be 200 words, adhere to APA standards, and utilize concrete examples to support your argument.
Locating a job ad in your field of interest: Firstly, you need to visit job boards like Indeed, Monster, Career Builder, or other platforms where you can locate a job ad in your field of interest.
Once you find an ad, analyze the ad for language and what they are really looking for based on your understanding from this week's readings and videos. Analyzing the ad for language and what they are really looking for: While analyzing the ad, you need to look beyond the surface of the language used. Determine what the employer is looking for in a candidate and what they expect from the candidate to bring to the company. Identify the required qualifications and skills, the specific duties of the job, and any other factors that may be important to the position. Justification for your conclusions: After analyzing the ad for language and determining what the employer is really looking for, provide a justification for your conclusions.
Use direct quotes from the ad to support your arguments. Your justification should show how you arrived at your conclusion and your interpretation of the language used in the ad. Utilize concrete examples to support your argument: To strengthen your argument, you can provide concrete examples to support your analysis. You can provide examples of your past experiences that match the requirements of the job ad. Finally, you should include a link to the ad in your post and make sure to adhere to any guidelines or word count limits given.
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A company has monthly fixed costs of $96,000. The variable costs are $8 per unit. If the sales price of a unit is $14 and we sell 8,000units, the total sales revenue will be
A. $112,000.
B. $48,000.
C. $95,950.
D. $96,000.
The total sales revenue will be $112,000. To calculate the total sales revenue, we need to multiply the number of units sold by the sales price per unit. In this case, the company sold 8,000 units at a sales price of $14 per unit. Therefore, the total sales revenue can be calculated as follows:
Total Sales Revenue = Number of Units Sold x Sales Price per Unit
Total Sales Revenue = 8,000 units x $14/unit
Total Sales Revenue = $112,000
Hence, the correct answer is A. $112,000. This represents the total amount of money the company will earn from selling 8,000 units at a price of $14 per unit. It does not take into account the costs associated with producing or selling the units, but rather focuses on the revenue generated from the sales.
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1. What is copyright? 2. How do you know when your creation is copyrighted or not? 3. Equate other case studies that have been provided to you on Canvas that have the same similar problems as the one mentioned above. You can use the internet to find other case studies that are relevant too. 4. What is the meaning of fair use? 5. How the copyright law works to protect people's work? 6. How does the courts handle copyright cases? a. Who is involved? b. What is the procedure like? c. What is passing a judgement? 7. What is your verdict on the case? Do you accept the judgement? Explain why.
1. Copyright is a legal term that refers to the ownership of intellectual property such as music, books, movies, and artwork. 2. Your creation is copyrighted as soon as it is created and fixed in a tangible form, such as writing it down or recording it. 3. One case study that has a similar problem to the one mentioned above is the lawsuit between Robin.
1. Copyright is a legal term that refers to the ownership of intellectual property such as music, books, movies, and artwork. It gives creators the exclusive right to control how their work is used and distributed.
2. Your creation is copyrighted as soon as it is created and fixed in a tangible form, such as writing it down or recording it. However, to prove your ownership in court, it is recommended that you register your copyright with the U.S. Copyright Office.
3. One case study that has a similar problem to the one mentioned above is the lawsuit between Robin Thicke, Pharrell Williams, and the estate of Marvin Gaye over the song "Blurred Lines." Another case is the lawsuit between Led Zeppelin and the estate of Randy California over the song "Stairway to Heaven."
4. Fair use is a legal doctrine that allows people to use copyrighted material for certain purposes without permission from the copyright owner, such as for criticism, commentary, news reporting, teaching, scholarship, or research.
5. Copyright law works to protect people's work by giving creators exclusive rights to their creations, such as the right to reproduce, distribute, display, and perform their work. If someone infringes on those rights, the creator can take legal action to stop the infringement and seek damages.
6. In a copyright case, the parties involved are usually the copyright owner and the alleged infringer. The procedure typically involves filing a lawsuit and going through discovery, motion practice, and possibly a trial. A judgment is the final decision made by the court in the case.
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Consider the basic AD/AS macro model in long-run equilibrium. A negative AS shock will ________ the price level and ________ output in the short run. In the long run, the price level will ________ and output ________.
A) decrease; decrease; decrease further; will decrease further
B) decrease; decrease; decrease further; will be restored to potential output
C) increase; decrease; decrease; will be restored to potential output
D) increase; decrease; increase further; will be restored to potential output
Consider the basic AD/AS macro model in long-run equilibrium. A negative AS shock will decrease the price level and decrease output in the short run. In the long run, the price level will decrease further and output will be restored to potential output.Therefore, the correct option is (B)
A negative AS (aggregate supply) shock will lead to a decrease in output and increase in the price level in the short run. It is because an adverse supply shock reduces the productive capacity of the economy. In the short term, firms are not able to adjust their prices and output fully. They increase the price level, reduce output, and incur losses due to higher input costs.
However, in the long run, the price level will decrease further as the input costs of the firms decrease. As a result, firms would adjust their output to the potential output level. Therefore, the output will be restored to potential output. In the long run, the aggregate supply curve is vertical, and the price level returns to the initial level, but the output level is restored to the potential output level. Hence, option (B) is the correct answer.
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a) Define what a "Final Good" is.
b) i. Using the expenditure approach, calculate the GDP of a large nation based on
the following data:
Consumption: $255 billion, Investment: $84 billion, Government: $103 billion,
Exports: $249 billion and Imports: $233 billion.
Write your formula and show your workings clearly.
a) A "Final Good" refers to a product or service that is consumed by end-users or individuals for their personal satisfaction or utility. b) the GDP of the large nation is $458 billion.
a) It is a tangible or intangible item that does not require further processing or transformation and is ready for immediate use or consumption. Final goods are typically sold directly to consumers through retail channels and are not intended for further production or resale.
b) To calculate the GDP of a large nation using the expenditure approach, we need to sum up the total expenditures on consumption, investment, government spending, and net exports (exports minus imports). In this case, the given data is as follows:
Consumption (C) = $255 billion
Investment (I) = $84 billion
Government spending (G) = $103 billion
Exports (X) = $249 billion
Imports (M) = $233 billion
The formula to calculate GDP using the expenditure approach is:
GDP = C + I + G + (X - M)
Plugging in the provided values, we get:
GDP = $255 billion + $84 billion + $103 billion + ($249 billion - $233 billion)
Simplifying further, we have:
GDP = $255 billion + $84 billion + $103 billion + $16 billion
Therefore, the GDP of the large nation is $458 billion.
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Sunland Corporation has the following shareholders’ equity on December 31, 2021:
Shareholders' equity
Share capital
$10 convertible preferred shares,
10,000 shares authorized, 4000 shares issued
$580000
Common shares, no par value,
200,000 shares authorized, 80000 shares issued
2000000
Total share capital
2580000
Retained earnings
464000
Total shareholders’ equity
$3044000
If one preferred share is convertible into 10 common shares, how many common shares are issued when 520 preferred shares are converted?
5200
5
520
52
When 520 preferred shares are converted, each preferred share can be exchanged for 10 common shares. Therefore, the total number of common shares issued can be calculated by multiplying the number of preferred shares being converted by the conversion ratio of 10 common shares per preferred share.
In this case, 520 preferred shares * 10 common shares per preferred share equals 5200 common shares. Therefore, the main answer is 5200 common shares.
When preferred shares are converted into common shares, it allows shareholders to exchange their preferred stock for common stock. This conversion can be beneficial for shareholders who prefer the benefits and voting rights associated with common shares.
By converting 520 preferred shares into 5200 common shares, Sunland Corporation increases the total number of outstanding common shares, which may impact the ownership distribution and voting power within the company. It can also affect the calculation of earnings per share and other financial ratios.
It's important for companies to accurately record and update the number of issued shares after any conversions to ensure transparency and compliance with regulatory requirements. Shareholders should be informed about the conversion process and any potential impacts on their ownership rights and benefits.
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a. Which of the following trade restrictions would be considered a quota? The U.S. federal government imposes a maximum number of bicycles that can be imported. The U.S. federal government levies a subsidy on automobiles exported from the United States. The U.S. federal government requires strict quality inspections of imported eggs. The U.S. federal government offers assistance programs to small firms that want to begin exporting. b. What is the purpose of a quota? generate tax revenue for an industry O increase prices for foreign consumers assist firms interested in expanding production overseas encourage growth in an industry c. Which of the following could be an unintended consequence of imposing a quota in the dairy industry? The unemployment rate in the dairy industry increases Bakeries begin using dairy alternatives rather than milk in their baking. Domestic producers begin providing higher-quality dairy milk. A domestic surplus of dairy milk occurs. < Prev 8 of 8 !!! Next
a. The trade restriction that would be considered a quota is the U.S. federal government imposing a maximum number of bicycles that can be imported.
b. The purpose of a quota is to increase prices for foreign consumers.
c. An unintended consequence of imposing a quota in the dairy industry could be bakeries beginning to use dairy alternatives rather than milk in their baking.
a. A quota is a trade restriction that imposes a maximum quantity of a specific product that can be imported or exported. Among the options given, the U.S. federal government imposing a maximum number of bicycles that can be imported represents a quota.
b. The purpose of a quota is to increase prices for foreign consumers. By restricting the quantity of imported goods, the limited supply can drive up prices, benefiting domestic producers and industries.
c. Imposing a quota in the dairy industry can have unintended consequences. One possible consequence is that bakeries may start using dairy alternatives instead of milk in their baking to offset the limited supply of dairy milk caused by the quota. This shift in ingredient choice can be a result of higher prices or limited availability of dairy milk.
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For each transaction below, explain whether or not the transaction would be included in the GDP of the United States this year, and what components of expenditure (C,I,G,X a ) are affected. 1. John Deere Co. sells a tractor made last year out of its inventory to a farmer.
2. John Deere Co. produces a tractor for its inventory and doesn't sell it. 3. Canadian tourists buy a pitcher of beer at a Bellingham brewery for $25. 4. Americar tourists buy a pitcher of beer at a Vancouver brewery for C$25. 5. You pay $1000 of income taxes to the U.S. government. 6. A catering business buys a new delivery van.
1. The sale of the tractor from John Deere's inventory to a farmer would be included in the GDP as it represents a final sale of a product.
2. The production of a tractor for John Deere's inventory that is not sold does not contribute to the GDP. It is considered an intermediate good and is not included in GDP calculations.
3. Canadian tourists buying a pitcher of beer at a Bellingham brewery for $25 would be included in the GDP as it represents a final sale of a product.
4. American tourists buying a pitcher of beer at a Vancouver brewery for C$25 would not be included in the GDP of the United States since it involves foreign transactions.
5. Paying $1000 of income taxes to the U.S. government is not included in the GDP calculation as it is considered a transfer payment.
6. The purchase of a new delivery van by a catering business would be included in the GDP as it represents investment expenditure (I) by a business.
1. The sale of the tractor from John Deere's inventory to a farmer is a final sale of a product and therefore contributes to the GDP. It represents an investment expenditure (I) by the farmer. Both the production of the tractor and its subsequent sale are included in the GDP calculation.
2. The production of a tractor for John Deere's inventory that is not sold does not directly contribute to the GDP. It is considered an intermediate good because it is not a final product sold to consumers. Intermediate goods are not included in the GDP calculation to avoid double-counting, as they are used as inputs in the production of final goods.
3. Canadian tourists buying a pitcher of beer at a Bellingham brewery for $25 is considered a consumption expenditure (C) and is included in the GDP. It represents the purchase of a final good by consumers. Since the transaction occurs within the United States, it contributes to the country's GDP.
4. American tourists buying a pitcher of beer at a Vancouver brewery for C$25 would not be included in the GDP of the United States. This transaction involves foreign trade (exports) and is part of Canada's GDP instead. It is recorded as an export (X) in the Canadian GDP calculation.
5. Paying $1000 of income taxes to the U.S. government is not included in the GDP calculation. It is classified as a transfer payment, which is a redistribution of income and not a purchase of goods or services. Transfer payments, such as taxes and welfare benefits, are not counted in GDP.
6. The purchase of a new delivery van by a catering business represents an investment expenditure (I) by the business and is included in the GDP. It contributes to the country's investment component of GDP as it represents spending on capital goods by firms.
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Which of these best describes the cost of goods sold expense? Select one: Cost of goods sold depends on the outstanding debt Cost of goods sold includes raw materials as well as all the other costs of production e.g. depreciation on factory machinery Cost of goods sold is paid to the government Cost of goods sold supports the production of the product
Cost of goods sold includes raw materials as well as all the other costs of production, e.g., depreciation on factory machinery.
The cost of goods sold (COGS) expense represents the direct costs incurred in the production or acquisition of goods that are sold by a company. It includes all the costs directly associated with producing or purchasing the goods that are sold to customers.
COGS encompasses various elements, including the cost of raw materials, direct labor, and direct overhead costs. Raw materials refer to the basic components used in the production process, while direct labor represents the wages and benefits of employees directly involved in manufacturing the goods. Direct overhead costs include expenses such as utilities, rent for the production facility, and depreciation on factory machinery.
It is important to note that COGS only includes costs directly attributable to the production of goods. It does not include indirect expenses like sales and marketing costs, administrative expenses, or interest payments.
By calculating the COGS, a company can determine the cost of the inventory that has been sold during a specific period. This information is crucial for determining the gross profit and ultimately the net income of the company.
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Inventory accounting is the body of accounting that deals with valuing and accounting for changes in inventoried assets. A company's inventory typically involves goods in three stages of production. What are the two systems of accounting for inventory?
Inventory accounting is the field of accounting that is concerned with the valuation and accounting for changes in inventoried assets. Companies typically have inventory of goods in three stages of production: raw materials, work-in-progress, and finished goods.
The two systems of accounting for inventory are the periodic inventory system and the perpetual inventory system.The Periodic Inventory System in the periodic inventory system, inventory is tracked using physical inventory counts. This means that the company only updates its inventory balance when it physically counts the inventory at the end of a period.
This count is used to calculate the cost of goods sold and the ending inventory. The Perpetual Inventory System in the perpetual inventory system, inventory levels and cost of goods sold are updated continuously. This means that every time a sale is made, inventory is reduced and the cost of goods sold is updated.
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According to economic theory, the actor with the opportunity cost in an activity has a higher; comparative advantage lower; comparative advantage Iower; absolute advantage Higher; Absolute Advantage
According to economic theory, the actor with the lower opportunity cost in an activity has a comparative advantage.
This means that they can produce a good or serviceat a lower opportunity cost compared to others. The concept of comparative advantage is based on the idea that individuals or countries should specialize in producing goods or services in which they have a lower opportunity cost and trade with others who have a different comparative advantage. By specializing and trading based on comparative advantage, overall production and efficiency can increase, leading to mutual benefits.
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Hrubec Products, Incorporated, operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow.
Selling price: $98
Expenses:
Variables: $70
Fixed (based on a capacity of 50,000 tons per year: 18
Net Operating Income: $10
Hrubec Products has just-acquired a small company that manufactures paper cartons. Hrubec plans to treat its newly acquired Carton Division as a profit center. The manager of the Carton Division is currently purchasing 6,400 tons of pulp per year from a supplier at a cost of $91 per ton. Hrubec's president is anxious for the Carton Division to begin purchasing its pulp from the Pulp. Division if the managers of the two divisions can negotiate an acceptable transfer price.
Required: For (1) and (2) below, assume the Pulp Division can sell all of its pulp to outside customers for $98 penton. 1. What is the Pulp Division's lowest acceptable transfer price? What is the Carton Division's highest acceptable transfer price? What is the range of acceptable transfer prices (if any) between the two divisions? Are the managers of the Carron and Pulp Divisions likely to voluntarlly agree to a transfer price for 6,400 tons of pulp next year? 2. If the Pulp Division meets the price that the Carton Division is currently paying to its supplier and seils 6,400 tons of puip to the Carton Division each year, what will be the effect on the profits of the Pulp Division, the Carton Division, and the company as a whole? For (3)-(6) below, assume that the Pulp Division is currently selling only 30,000 tons of pulp each year to outside customers at the stated $98 price. 3. What is the Pulp Division's lowest acceptable transfer price? What is the Carton Division's highest acceptable transfer price? What is the range of acceptable transfer prices (if any) between the two divisions? Are the managers of the Carton and Pulp Divisions likely to voluntarily agree to a transfer price for 6,400 tons of pulp next year? 4-a. Suppose the Carton Division's outside supplier drops its price to only $87 per ton. Should the Pulp Division meet this price? 4-b. If the Pulp Division does not meet the $87 price, what will be the effect on the profits of the company as a whole? 5. Refer to (4) above. If the Pulp Division refuses to meet the $87 price, should the Carton Division be required to purchase from the Pulp Division at a higher price for the good of the company as a whole? 6. Refer to (4) above. Assume that due to inflexible management policies, the Carton Division is required to purchase 6,400 tons of pulp each year from the Pulp Division at $98 per ton. What will be the effect on the profits of the company as a whole? What is the Pulp Division's lowest acceptable transfer price? What is the Carton Division's highest acceptable transfer price? What is the rang of acceptable transfer prices (of any) between the two divisions? Are the managers of the Carton and Pulp Divisions likely to voluntarily agree a transfer price for 6,400 tons of pulp next year? (Round Maximum transfer price" answer to 1 decimal place.) If the Pulp Division meets the price that the Carton Division is currently paying to its supplier and sells 6,400 tons of pulp to the Carton Division each year, what will be the effect on the profits of the Pulp Division, the Carton Division, and the company as a whole? (Do not round intermediate calculations.) What is the Pulp Division's lowest acceptable transfer price? What is the Carton Division's highest acceptable transfer price?
What is the range of acceptable transfer prices (if any) between the two divisions? Are the managers of the Carton and Pulp Divisions likely to voluntarily agree to a transfer price for 6,400 tons of pulp next year? (Round your answers to nearest whole dollar amount.) .Suppose the Carton Division's outside supplier drops its price to only $87 per ton. Should the Pulp Division meet this price? If the Pulp Division does not meet the $87 price, what will be the effect on the profits of the company as a whole? Refer to (4) above. If the Pulp Division refuses to meet the $87 price, should the Carton Division be required to purchase from the Pulp Division at a higher price for the good of the company as a whole?
Should the Carton Division be required to purchase from the Pulp
Division? Refer to (4) above. Assume that due to inflexible management policies, the Carton Division is required to purchase 6,400 tons of pulp each year from the Pulp Division at $98 per ton. What will be the effect on the profits of the company as a whole?
To analyze the transfer pricing scenario between the Pulp Division and the Carton Division, we need to consider the costs and revenues associated with the Pulp Division.
Selling price of pulp to outside customers: $98 per ton
Variable expenses per ton: $70
Fixed expenses per ton (based on a capacity of 50,000 tons per year): $18
Net Operating Income per ton: $10
Transfer pricing assuming the Pulp Division can sell all its pulp to outside customers:
a) Pulp Division's lowest acceptable transfer price:
The lowest acceptable transfer price for the Pulp Division would be the variable expenses per ton, which is $70.
b) Carton Division's highest acceptable transfer price:
The Carton Division's highest acceptable transfer price would be the price it currently pays to its supplier, which is $91 per ton.
c) Range of acceptable transfer prices:
The range of acceptable transfer prices between the Pulp Division and the Carton Division is between $70 and $91 per ton.
Considering the acceptable transfer price range, the managers of the Carton and Pulp Divisions may be able to agree on a transfer price for the 6,400 tons of pulp next year.
Effect on profits:
If the Pulp Division meets the price the Carton Division currently pays to its supplier ($91 per ton) and sells 6,400 tons of pulp to the Carton Division each year, the effect on profits would be as follows:
Pulp Division's profit: 6,400 tons * ($91 - $70) = $134,400
Carton Division's profit: 6,400 tons * ($98 - $91) = $44,800
Company's overall profit: $134,400 + $44,800 = $179,200
Transfer pricing assuming the Pulp Division is currently selling only 30,000 tons of pulp to outside customers:
a) Pulp Division's lowest acceptable transfer price:
With the given data, the Pulp Division's lowest acceptable transfer price is still the variable expenses per ton, which is $70.
b) Carton Division's highest acceptable transfer price:
The Carton Division's highest acceptable transfer price remains at $91 per ton, which is the price it currently pays to its supplier.
c) Range of acceptable transfer prices:
The range of acceptable transfer prices between the Pulp Division and the Carton Division is still between $70 and $91 per ton.
Based on the given data, it is possible for the managers of the Carton and Pulp Divisions to agree on a transfer price for the 6,400 tons of pulp next year.
Effect on profits if the Carton Division's outside supplier drops the price to $87 per ton:
a) Should the Pulp Division meet this price?
No, the Pulp Division should not meet the $87 price as it is below the Pulp Division's variable expenses per ton of $70.
b) Effect on the profits of the company as a whole:
If the Pulp Division does not meet the $87 price and the Carton Division continues purchasing from its outside supplier, the profits of the company as a whole would remain the same as the current situation.
Should the Carton Division be required to purchase from the Pulp Division at a higher price for the good of the company as a whole?
Considering that the Pulp Division's transfer price is higher than the outside supplier's price, it may not be beneficial for the Carton Division to purchase from the Pulp Division at a higher price for the company as a whole, as it could negatively impact profits.
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Supply chain management is the managing of a set of three or more companies
linked together by the flow of products, finance, services, and information in an ideally seamless web Zaraté, Belaud and Camilleri (2008). In the supply chain, companies move things, make things, store things, and throw things away. In theory, a supply chain seeks to match demand with supply and do so with minimal inventory. This year has presented us with some challenges with the onslaught on Covid-19. With just existing during this time, name 3 areas (using chapter 15 topics and outcomes) where you have seen (or believe) Covid-19 has negatively affected the supply chain of many organizations.
Covid-19 has had a significant negative impact on various aspects of the supply chain for many organizations. Three areas that have been particularly affected are demand forecasting, inventory management, and transportation.
Demand forecasting: The uncertainty and volatility caused by the pandemic have made demand forecasting extremely challenging. Traditional forecasting models and historical data became unreliable due to sudden shifts in consumer behavior, restrictions on mobility, and changing market dynamics. Organizations struggled to accurately predict demand patterns, leading to either overstocking or understocking of products. This resulted in increased costs, reduced customer satisfaction, and lost opportunities.
Inventory management: The disruptions caused by Covid-19, such as factory closures, transportation restrictions, and supply shortages, severely impacted inventory management. Many organizations faced difficulties in maintaining optimal inventory levels. Panic buying, sudden shifts in demand, and supply chain disruptions led to stockouts of essential products and excess inventory of non-essential goods. This imbalance in inventory levels resulted in financial losses, increased carrying costs, and reduced operational efficiency.
Transportation: Covid-19-related restrictions and lockdowns significantly affected transportation networks globally. Limited availability of air freight, reduced shipping capacity, and border closures disrupted the movement of goods across regions and countries. This led to delays, increased transportation costs, and logistical challenges for organizations relying on global supply chains. Moreover, health and safety protocols, including social distancing requirements, affected the efficiency and productivity of transportation operations, further exacerbating the supply chain challenges.
Covid-19 has had a detrimental impact on the supply chains of many organizations. The pandemic disrupted demand forecasting, inventory management, and transportation, creating uncertainties and challenges for companies worldwide. To mitigate the effects of future disruptions, organizations should focus on enhancing agility, adopting advanced analytics and forecasting techniques, diversifying sourcing strategies, and establishing resilient and adaptable supply chains.
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in a confidence interval, what information does the margin of error provide?
The margin of error provides the information about the maximum expected difference between the true population parameter and the sample statistic.
A confidence interval is a range of values that are calculated from the data which is used to estimate an unknown population parameter. It is a statistical term used to describe a range of values around the point estimate of a population parameter within which the true population parameter is expected to fall, with a certain level of confidence or probability.A margin of error is a statistical term used to measure the amount of random sampling error in a study’s results. It indicates how much the sample statistic may vary from the true population parameter.
The margin of error provides the information about the maximum expected difference between the true population parameter and the sample statistic. The confidence interval is the range of values that contains the true population parameter with a specific level of confidence. The margin of error is calculated as the product of the critical value and the standard error of the estimate.
Any number derived from your sample data is referred to as a sample statistic or statistic. The percentiles, sample standard deviation, average, and median, among others, are examples. Because it is based on data obtained through a random experiment known as random sampling, a statistic is a random variable.
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Fun-4-Kids Ltd (F4K) is a Perth-based company that specialises in designing and manufacturing equipment for use in children’s playgrounds. Clause 4 of F4K's constitution provides that the company's activities are restricted to the 'design and manufacture of children’s playground equipment suitable for use in public spaces'.
Eighty per cent of the company's members are dog owners who would like the company to expand its activities to include the design and manufacture of dog exercise equipment (for use in public places) but the directors think that this is not a good idea.
With reference to the above set of facts, and using the four-steps process, discuss whether the directors have to give effect to the members’ wishes. If the directors ignore the members' wishes, can the members change the company’s constitution to remove clause 4 of the constitution, and if so, how this can be done.
While the directors of F4K are not obligated to give effect to the members' wishes, the members have the ability to change the company's constitution, including removing Clause 4, through a proper amendment process that follows the legal requirements and voting procedures.
Based on the provided facts, the directors of Fun-4-Kids Ltd (F4K) are not obligated to give effect to the members' wishes to expand the company's activities to include the design and manufacture of dog exercise equipment. This conclusion can be reached by following a four-step process:
Review the company's constitution: Clause 4 of F4K's constitution restricts the company's activities to the design and manufacture of children's playground equipment for use in public spaces.
Determine the power of directors: The directors of F4K have the authority to make decisions within the limits set by the company's constitution.
Assess member's ability to change the constitution: Members can change the company's constitution, including removing Clause 4, but they must follow the appropriate legal procedures and obtain the required majority vote as stipulated by the Corporations Act or the company's existing constitution.
Process for changing the constitution: To remove Clause 4 from the constitution, the members must propose a resolution to amend the constitution. This resolution needs to be passed by the required majority vote at a properly convened general meeting of the company's members.
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Which of the following is false with regard to the characteristics of incorporated companies?
The Shareholders would be vicariously liable for any damage caused by a company employee carrying out his or her duties.
The company is a separate legal person which can sue and be sued.
Directors are responsible for the management of the company.
A shareholder’s liability is limited to the amount he or she paid for the shares.
The statement that is false regarding the characteristics of incorporated companies is: "The Shareholders would be vicariously liable for any damage caused by a company employee carrying out his or her duties." The correct option is A.
Incorporated companies have the advantage of separate legal personality, which means that the company is treated as a distinct legal entity from its shareholders.
This allows the company to enter into contracts, own assets, and sue or be sued in its own name.
Shareholders' liability is limited to the amount they have invested in the company, which means their personal assets are generally protected from the company's debts and liabilities.
Directors, on the other hand, are responsible for the management and decision-making of the company. They have a fiduciary duty to act in the best interests of the company and its shareholders.
However, shareholders are not personally liable for the actions or debts of the company unless they have given personal guarantees.
Thus, shareholders are not vicariously liable for any damages caused by company employees in the course of their duties.
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Cash Accounts receivable Inventory. Equipment. Total. THINKI Butterfly Company Balance Sheet At December 31, 2012 $ 106,000 Accounts payable $ 12,000 Note payable 46,000 966,000 Contributed capital Retained earnings Total $ 1,130,000 EA 13,100 9,600 580,000 .....
Cash, Accounts Receivable, Inventory, and Equipment are some of the primary accounts on a company's balance sheet. The Butterfly Company's Balance Sheet at December 31, 2012, shows the balances of each of these accounts along with some other accounts.
The balance sheet indicates the financial status of an enterprise at a specific time. It consists of a list of assets, liabilities, and equity accounts.The accounts under assets are listed in order of liquidity, indicating the ease with which they can be converted to cash, with the cash account being first.
The amount of Accounts Receivable indicates how much money the company is owed for sales made but not yet paid. The inventory account contains the cost of the items that the company has in stock, ready for sale. Equipment represents the total value of the equipment the company owns.
A company's total assets must balance with its total liabilities plus equity. A company's financial health can be assessed by reviewing the relationship between these three components, and interpreting the balances of each of the accounts.
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Write a DEBATE STYLE analysis of the article ‘Growth of World Population’ Your paper must include:
1. INTRODUCTION & SUMMARY OF THE ARTICLE
· What is the statement/argument the author makes about population?
· What are the arguments the author presents to justify the argument?
· Identify 5 statements/reasons the author makes to support argument.
· 8 Marks WORD LIMIT – 200 WORDS
2. WRITE THREE ARGUMENTS THAT DISAGREE WITH THE AUTHOR
· ASSERTION STATEMENT – the idea you want to make to oppose the author – a statement that can be supported with reasoning
· REASON · EVIDENCE – Facts in support of the reason – author, date, data
· IMPACT STATEMENT · Each argument = 5 marks = Total 15 marks MINIMUM 2OO WORDS EACH ARGUMENT = 600 WORDS
3. CONCLUSION · Write a conclusion for the paper. · Summarize your paper
1) The global population has reached an all-time high of 7.8 billion; 2) Increased birth rates in developing countries contribute to population growth; 3) Limited access to healthcare and family planning in certain regions leads to higher birth rates; 4) Overpopulation puts pressure on finite resources, leading to resource depletion; 5) Population growth exacerbates climate change and environmental issues.
1. Assertion Statement: The article overlooks the potential for technological advancements to mitigate resource scarcity concerns.
Reason: Technological progress has historically enabled humanity to overcome resource challenges.
Evidence: According to studies by renowned scholars (Author, Date), technological innovations have significantly increased resource efficiency and allowed for the exploration and utilization of alternative resources.
Impact Statement: Failing to acknowledge the potential of technological advancements undermines the potential solutions to resource scarcity concerns.
2. Assertion Statement: The article neglects to consider the potential benefits of population growth for economic development.
Reason: Population growth can lead to a larger labor force and increased consumer demand, driving economic growth.
Evidence: Research conducted by economists (Author, Date) indicates that population growth can positively impact GDP and promote economic development.
Impact Statement: Ignoring the economic benefits of population growth oversimplifies the issue and overlooks its potential positive effects on societies.
3. Assertion Statement: The article fails to recognize the potential for societal progress and innovation driven by a larger population.
Reason: A larger population can contribute to a diverse range of ideas, talents, and skills, fostering innovation and progress.
Evidence: Case studies (Author, Date) have shown that densely populated regions often exhibit higher rates of innovation and technological advancements.
Impact Statement: Disregarding the positive impact of population growth on societal progress limits our understanding of the potential benefits that can arise from a larger population.
In conclusion, while the article 'Growth of World Population' presents valid arguments about the challenges posed by population growth, it fails to consider alternative perspectives.
By exploring the potential of technological advancements, the economic benefits of population growth, and the role of population size in fostering innovation, we can develop a more comprehensive understanding of the topic. Acknowledging these opposing viewpoints is crucial for a balanced analysis of the complex issue of global population growth.
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Consider a process consisting five resources that are operated eight hours per day. The process works on three different products, A, B and C:
Resources Number of Workers Processing Time for A (minutes) Processing Time for B (minutes) Processing Time for C (minutes)
1 2 5 5 2
2 2 4 4 4
3 1 15 0 1
4 1 3 4 3
5 2 2 7 4
Demand for Three different products is as follows: product A, 20 units per day; product B, 40 units per day; and product C, 50 units per day.
1. What is the bottleneck?
2. What is the flow rate for each unit assuming that the demand must be served in the mixed describe above(i, e. for every two units A, there are 4 units of B and five units of C)?
1. The bottleneck in a process refers to the resource or step that limits the overall capacity of the process. In other words, it is the slowest resource or step that determines how much output can be produced within a given time frame. To determine the bottleneck in this process, we need to compare the processing times for each resource with the demand for each product. Resource 1 has a processing time of 5 minutes for product A, 5 minutes for product B, and 2 minutes for product C. Resource 2 has a processing time of 4 minutes for product A, 4 minutes for product B, and 4 minutes for product C. Resource 3 has a processing time of 15 minutes for product A, 0 minutes for product B, and 1 minute for product C. Resource 4 has a processing time of 3 minutes for product A, 4 minutes for product B, and 3 minutes for product C. Resource 5 has a processing time of 2 minutes for product A, 7 minutes for product B, and 4 minutes for product C.
Now, let's calculate the total processing time for each product by multiplying the processing time of each resource by the number of workers operating that resource For product A:
(2 workers 5 minutes) + (2 workers 4 minutes) + (1 worker 15 minutes) + (1 worker 3 minutes) + (2 workers 2 minutes) = 10 + 8 + 15 + 3 + 4 = 40 minutesFor product B:
(2 workers 5 minutes) + (2 workers 4 minutes) + (1 worker 0 minutes) + (1 worker 4 minutes) + (2 workers 7 minutes) = 10 + 8 + 0 + 4 + 14 = 36 minutesFor product C:
(2 workers 2 minutes) + (2 workers 4 minutes) + (1 worker 1 minute) + (1 worker 3 minutes) + (2 workers 4 minutes) = 4 + 8 + 1 + 3 + 8 = 24 minutes From the above calculations, we can see that the processing time for product B (36 minutes) is the highest among the three products. Therefore, the bottleneck in this process is resource 2, as it limits the overall capacity of the process.2. The flow rate for each unit can be calculated by dividing the total processing time for each product by the total demand for that product.
For product A:
Flow rate = Total processing time / Demand = 40 minutes / 20 units = 2 minutes per unitFor product B:
Flow rate = Total processing time / Demand = 36 minutes / 40 units = 0.9 minutes per unitFor product C:
Flow rate = Total processing time / Demand = 24 minutes / 50 units = 0.48 minutes per unit Therefore, assuming that the demand must be served in the mix described (2 units of A, 4 units of B, and 5 units of C), the flow rate for each unit would be: - 2 minutes per unit for product A - 0.9 minutes per unit for product B - 0.48 minutes per unit for product C.About ProductIn business, product are goods or services that can be bought and sold. In marketing, a product is anything that can be offered to a market and can satisfy a want or need. At the retail level, products are often referred to as merchandise. According to Kotler and Armstrong (2017: 244) a product is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Consumer products or consumer products, sometimes called finished goods, are products purchased by consumers for personal use. For example, toothpaste will be considered a consumer product because it is purchased and used directly by consumers.
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Adjustments to the cash account based on the bank reconciliation LO 6−3 The following items were included in Wong Company's January Year 1 bank reconciliation. Required: Determine whether each item will require adjustments to the book balance of Wong's cash account and indicate the amount of any necessary adjustment. Note: Amounts to be deducted should be indicated with a minus sign. a. Service charges of $38 for the month of January were listed on the bank statement, b. The bank charged a $442 check drawn on Wing Restaurant to Wong's account. The check was included in Wong's bank statement. c. A check of $78 was returned to the bank because of insufficient funds and was noted on the bank statement. Wong recelved the check from a customer and thought that it was good when it was deposited into the account. d. A $924 deposit was recorded by the bank as $942. e. Four checks totaling $902 written during the month of January were not included with the January bank statement. f. A$73 check written to OfficeMax for office supplies was recorded as $37. g. The bank statement indicated that the bank had collected a $555 note for Wong. h. Wong recorded $863 of receipts on January 31, Year 1, which were deposited in the night depository of the bank. These deposits were not included in the bank statement.
In Wong Company's January Year 1 bank reconciliation, several items require adjustments to the book balance of Wong's cash account. The necessary adjustments and amounts are as follows:
a. Service charges of $38 for the month of January listed on the bank statement: Adjust the book balance by deducting $38.
b. The bank charged a $442 check drawn on Wing Restaurant to Wong's account: Adjust the book balance by deducting $442.
c. A check of $78 returned to the bank due to insufficient funds: Adjust the book balance by deducting $78.
d. A $924 deposit recorded by the bank as $942: No adjustment is necessary as the error is on the bank's side.
e. Four checks totaling $902 written in January not included in the bank statement: No adjustment is necessary as these checks were not reflected in the bank statement.
f. A $73 check written to OfficeMax for office supplies recorded as $37: Adjust the book balance by deducting $36.
g. The bank collected a $555 note for Wong: No adjustment is necessary as this indicates an increase in the book balance.
h. $863 of receipts deposited in the night depository on January 31, Year 1, not included in the bank statement: No adjustment is necessary as these deposits were not reflected in the bank statement.
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Krepps Corporation produces a single product. Last year, Krepps manufactured 33,110 units and sold 27,600 units. Production costs for the year were as follows: Direct materials $248,325 Direct labor $175,483 Variable manufacturing overhead $294,679 Fixed manufacturing overhead Sales $463,540 totaled $1,242,000 for the year, variable selling and administrative expenses totaled $140,760, and fixed selling and administrative expenses totaled $221,837. There was no beginning inventory. Assume that direct labor is a variable cost Under variable costing, the company's net operating income for the year would be: Multiple Choice O $30,305 lower than under absorption costing. $30,305 higher than under absorption costing. $77,140 lower than under absorption costing
Under variable costing, Krepps Corporation's net operating income for the year would be $30,305 higher than under absorption costing.
Variable costing is a costing method that includes only variable manufacturing costs as product costs. In this case, the variable manufacturing costs include direct materials, direct labor, and variable manufacturing overhead. Fixed manufacturing overhead is treated as a period expense and is not included in product costs. On the other hand, absorption costing allocates both variable and fixed manufacturing costs to products.
To calculate net operating income under variable costing, we subtract all variable costs (direct materials, direct labor, variable manufacturing overhead, variable selling and administrative expenses) from sales.
Sales revenue: $1,242,000
Variable costs:
Direct materials: $248,325
Direct labor: $175,483
Variable manufacturing overhead: $294,679
Variable selling and administrative expenses: $140,760
Net operating income under variable costing:
$1,242,000 - ($248,325 + $175,483 + $294,679 + $140,760) = $382,753
Under absorption costing, fixed manufacturing overhead is included in product costs. Since the fixed manufacturing overhead is not expensed until the products are sold, the net operating income under absorption costing will be lower. The difference in net operating income between variable and absorption costing is equal to the fixed manufacturing overhead that was included in the product costs but not expensed. Therefore, the net operating income under variable costing is $30,305 higher than under absorption costing ($77,140 - $30,305).
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On May 10th , sheffield company discounted at sunshine Bank a 5,850 (maturity value) ,121 day note dated Feb. 26th . sunshine discount rate was 10% . what proceeds did the sheffield company receive?
To calculate the proceeds that Sheffield Company received from the discounted note, we need to determine the discount amount first. The discount amount is calculated using the formula: Discount = Maturity Value * Discount Rate * Time
Where:
Maturity Value = $5,850
Discount Rate = 10% (0.10)
Time = 121 days / 365 days (since the note is dated Feb. 26th and discounted on May 10th)
Time = 0.3315 (approx.)
Discount = $5,850 * 0.10 * 0.3315 ≈ $192.40
The proceeds Sheffield Company received will be the maturity value minus the discount:
Proceeds = Maturity Value - Discount
Proceeds = $5,850 - $192.40 ≈ $5,657.60
Therefore, Sheffield Company received approximately $5,657.60 as proceeds from the discounted note
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The Act defines compensation as
Commission only
Fees only
Receipt of any economic benefit
12(b) 1 fees only
The Act defines compensation as commission only, fees only, receipt of any economic benefit, and 12(b) 1 fees only. according to the Act, compensation can be in the form of commission,
fees, or any economic benefit received. Additionally, it specifies that 12(b) 1 fees (fees charged by mutual funds) can also be considered as compensation. These various forms of compensation are defined by the Act for regulatory and legal purposes in the relevant industry.
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Suppose that scores on a statistics exam are normally distributed with a mean of 75.7 and a standard deviation of 5.6315. Would it be unusual for a student to score between 73.73 and 74.26?
options:
1) It is impossible for a value in this interval to occur with this distribution of data.
2) A value in this interval is borderline unusual.
3) A value in this interval would be unusual.
4) A value in this interval is not unusual.
5) We do not have enough information to determine if a value in this interval is unusual.
In this case, both z-scores (-0.349 and -0.256) are well within ±2, indicating that the values of 73.73 and 74.26 are not far from the mean and are not considered unusual.
To determine whether a student scoring between 73.73 and 74.26 on the statistics exam would be considered unusual, we need to assess the z-scores associated with these values. The z-score measures the number of standard deviations a particular value is away from the mean.
The formula for calculating the z-score is: z = (x - μ) / σ
Where:
x is the value (in this case, the score)
μ is the mean
σ is the standard deviation
For the lower value of 73.73:
z1 = (73.73 - 75.7) / 5.6315 ≈ -0.349
For the upper value of 74.26:
z2 = (74.26 - 75.7) / 5.6315 ≈ -0.256
To determine if these z-scores are considered unusual, we can refer to commonly used thresholds. A common threshold for considering a value as unusual is if its z-score is beyond ±2.
In this case, both z-scores (-0.349 and -0.256) are well within ±2, indicating that the values of 73.73 and 74.26 are not far from the mean and are not considered unusual.
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Suppose a student consumes two goods, snack (k) and stationery (y) and has utility function U(k,y)=ky. She has a budget of R400. The price of snack is Pk =10 and the price of y is Py=20 1.1. Find her optimal consumption bundle using the Lagrange method. [8] 1.2. Show what happens to optimal bundle when there is a snacks' special, with Pk=5 all other things remaining constant? [4] 1.3. Derive constrained and unconstrained demand curves for the individual on snacks. You can make any additional assumption over and above the ones in question (ii). [18] 1.4. Assuming that utility derived with optimal values in question (i) is 200 utils and that the drop in prices in all probability increases utility by 50% Compute the amount of compensation required, if any. Explain clearly with use of examples the nature of compensation, and motivate why that amount is best compared to alternatives. [10]
In question 1, the student's optimal consumption bundle is found using the Lagrange method. In question 1.2, the optimal bundle is affected by a snacks' special, leading to a change in the price of snacks. In question 1.3, the constrained and unconstrained demand curves for snacks are derived. In question 1.4, the amount of compensation required is computed, taking into account the increase in utility due to a drop in prices. The nature of compensation and the chosen amount are explained, considering the given circumstances.
The student's optimal consumption bundle, obtained using the Lagrange method, consists of 20 units of snack (k) and 10 units of stationery (y). In the case of a snacks' special with a reduced price of Pk=5, the optimal consumption bundle would change due to the altered budget constraint.
The constrained and unconstrained demand curves for snacks cannot be derived without additional information. If the utility derived from the optimal values is 200 utils and the price drop is expected to increase utility by 50%, the amount of compensation required would be to restore the utility to the previous level, indicating the need for at least 100 utils worth of compensation.
To find the student's optimal consumption bundle using the Lagrange method, we set up the following optimization problem:
Maximize U(k, y) = ky
Subject to the budget constraint: 10k + 20y = 400
Step 1: Set up the Lagrangian function:
L(k, y, λ) = ky + λ(400 - 10k - 20y)
Step 2: Take the partial derivatives and set them equal to zero:
∂L/∂k = y - 10λ = 0
∂L/∂y = k - 20λ = 0
10k + 20y = 400 (budget constraint)
Solving the equations simultaneously, we have:
y - 10λ = 0 (1)
k - 20λ = 0 (2)
10k + 20y = 400 (3)
From equation (2), we get k = 20λ.
Substituting this into equation (3), we have:
10(20λ) + 20y = 400
200λ + 20y = 400
y = 20 - 10λ (4)
Substituting the value of y from equation (4) into equation (1), we have:
20 - 10λ - 10λ = 0
20 - 20λ = 0
λ = 1
Substituting the value of λ = 1 into equation (4), we get:
y = 20 - 10(1) = 10
k = 20(1) = 20
Therefore, the optimal consumption bundle for the student is k = 20 and y = 10.
1.2. When there is a snacks' special with Pk = 5, the price of snacks decreases while the price of stationery remains constant. In this case, the student's budget constraint changes to 5k + 20y = 400, and the new optimization problem can be solved using the same Lagrange method to find the new optimal consumption bundle.
1.3. To derive the constrained and unconstrained demand curves for snacks, we need additional information such as the student's income level or the prices of other goods. Without this information, it is not possible to provide a specific answer.
1.4. To compute the amount of compensation required, we need the new utility level after the price change and the utility level with the optimal values from question (i). Since the utility derived with the optimal values in question (i) is 200 utils and the drop in prices is expected to increase utility by 50%, the new utility level would be 1.5 times the previous level, i.e., 1.5 * 200 = 300 utils.
To compute the amount of compensation required, we need to find the difference between the maximum utility level attainable at the new prices and the utility level achieved with the optimal values in question (i). In this case, the difference is 300 - 200 = 100 utils.
The nature of compensation would involve providing the student with additional purchasing power or income to offset the decrease in utility caused by the price change. The amount of compensation required would depend on the specific circumstances and would need to be at least enough to restore the utility to the previous level of 200 utils.
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Omni Telecom is trying to decide whether to increase its cash dividend immediately or use the funds to increase its future growth rate. P_θ = D_1 / Ke - g P_θ = Price of the stock today D_1 = Dividend at the end of the first year D_1 = D_θ x (1 + g) D_θ = Dividend today K_e = Required rate of return g=Constant growth rate in dividends D_θ is currently $2.80, K_e is 12 percent, and g is 5 percent. Under Plan A, D_θ would be immediately increased to $3.40 and K_e and g will remain unchanged. Under Plan B. D_θ will remain at $2.80 but g will go up to 6 percent and K_e will remain unchanged. a. Compute Pe (price of the stock today) under Plan A. Note D_1 will be equal to D_θ x (1 + g) or $3.40 (1.05). K_e will equal 12 percent, and g will equal 5 percent. (Round your intermediate calculations and final answer to 2 decimal places.) Stock price for Plan A _____
b. Compute P_θ (price of the stock today) under Plan B. Note D_1 will be equal to D_θ x (1 + g) or $2.80 (1.06). K_e will be equal to 12 percent, and g will be equal to 6 percent. (Round your intermediate calculations and final answer to 2 decimal places.) Stock price for Plan B ______
c. Which plan will produce the higher value? o Plan B o Plan A
The stock price under Plan B is $49.47, which is higher than the stock price under Plan A ($42.00), we can conclude that Plan B will produce the higher value. Therefore, the correct answer is c. Plan B
a. To calculate the stock price (Pₜₕ) under Plan A, we'll use the formula:
Pₜₕ = D₁ / (Kₑ - g)
Given:
Dₜₕ = $2.80
g = 5%
Kₑ = 12%
First, calculate D₁ (dividend at the end of the first year) under Plan A:
D₁ = Dₜₕ × (1 + g) = $2.80 × (1 + 0.05) = $2.80 × 1.05 = $2.94
Now, substitute the values into the formula to find Pₜₕ under Plan A:
Pₜₕ = $2.94 / (0.12 - 0.05) = $2.94 / 0.07 ≈ $42.00 (rounded to 2 decimal places)
Therefore, the stock price under Plan A is approximately $42.00.
b. To calculate the stock price (Pₜₕ) under Plan B, we'll use the same formula:
Pₜₕ = D₁ / (Kₑ - g)
Given:
Dₜₕ = $2.80
g = 6%
Kₑ = 12%
First, calculate D₁ (dividend at the end of the first year) under Plan B:
D₁ = Dₜₕ × (1 + g) = $2.80 × (1 + 0.06) = $2.80 × 1.06 = $2.968
Now, substitute the values into the formula to find Pₜₕ under Plan B:
Pₜₕ = $2.968 / (0.12 - 0.06) = $2.968 / 0.06 ≈ $49.47 (rounded to 2 decimal places)
Therefore, the stock price under Plan B is approximately $49.47.
c. To determine which plan will produce the higher value, we compare the stock prices under Plan A and Plan B. Since the stock price under Plan B is $49.47, which is higher than the stock price under Plan A ($42.00), we can conclude that Plan B will produce the higher value.
Therefore, the correct answer is:
c. Plan B
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Flag The world is facing new pandemic of COVID19 and many businesses are affected by this situation. The manager of ABC Company based in Oman mainly depends on sales people in selling products and making deals. Most of the times, the employee approaches customers with broachers and many offers and try to make good conversation and persuade the customer to buy. The manager of the company made a decision that all the direct selling will stop and assured his team members that everything is under control and he made this decision because he care about the safety of his employees. However, followed this decision, the manager mentioned strictly that he can’t handle the expenses of the company so he will not be able to pay their salaries till the situation ends. One of the employees mentioned that he got loans from the bank and he got family expenses so its difficult for him to accept the decision of NO WORK , NO PAY . Eventually, the manager said it’s out of his hand and he will not give them salaries as there is no sales in the company and they were under budget and can’t handle the expenses of salaries.
Do you think that Sales Management and work in organizations will be changed after COVID19? Give your opinion
Yes, the Sales Management and work in organizations will be changed after COVID-19. This pandemic has adversely impacted the business sector in a way that was never expected.
As a result of the pandemic, the world has seen lockdowns, quarantine periods, and social distancing measures being put into place. All of these actions have affected the way organizations conduct their business, including sales management. Some of the changes that could occur include:
1. Digitization of sales management: Most of the organizations will be shifting towards digitization of their sales management. Digital marketing has become an important part of the sales process and the pandemic has only served to speed up the transition to digital platforms.
2. Remote work: Remote work has become an essential part of the pandemic period. Many organizations have been forced to allow their employees to work remotely, and this could become a norm in the future.
3. Shift towards e-commerce: With the limitations on physical interaction, e-commerce has become the norm. Most organizations have been forced to shift to e-commerce platforms, and this could become a permanent fixture in the future.
4. Focus on safety: Safety has become an important aspect of the business process. In the future, organizations could continue to focus on safety and implement measures to ensure the safety of their employees and customers.
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Q1) An auditor is performing interim testing of accounts. Should these same accounts be tested again at year-end?
Q2) Can an auditor place complete reliance on internal control to the exclusion of other audit procedures?
Q1) Yes, accounts should be tested again at year-end even if interim testing was performed, as it provides updated and comprehensive information about the accounts' accuracy and completeness.
Q2) No, an auditor cannot solely rely on internal control. While it reduces the extent of substantive procedures, other audit procedures are necessary to obtain reasonable assurance regarding the financial statements' accuracy and detect material misstatements not prevented by internal controls.
Interim testing is conducted during the interim period to obtain sufficient evidence for financial reporting purposes. However, year-end testing is still necessary because it covers the entire financial period and captures any changes or developments that might have occurred after the interim testing. This ensures that the accounts are accurately and completely represented in the final financial statements.
While internal controls are important, they are not infallible. Internal control systems may have limitations or be subject to management override or manipulation. Therefore, auditors need to perform other audit procedures, such as substantive testing, to independently verify the accuracy and completeness of financial statements. These procedures provide additional evidence and increase the level of assurance regarding the financial statements' reliability.
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Many national and international trade associations have trade shows primarily to: Select one: A. Display the most current innovations in equipment, tools, and service. B.entice technicians to join their association. C.provide employment HVACR technicians. D. use them as opportunities to sell tools and service training literatureto technicians.
The correct answer is:
A. Display the most current innovations in equipment, tools, and service.
Many national and international trade associations have trade shows primarily to showcase and display the most current innovations in equipment, tools, and services related to their industry. Trade shows serve as platforms for companies to exhibit their latest products and services, allowing industry professionals and attendees to stay updated on the advancements and developments within the field.
Trade shows provide an opportunity for manufacturers, suppliers, and service providers to demonstrate their offerings, interact with potential customers, and generate interest and awareness about their products. It allows attendees to explore and learn about new technologies, equipment, tools, and services available in the market.
While trade shows may indirectly contribute to employment opportunities and provide networking opportunities for technicians, their primary purpose is to showcase industry innovations rather than directly focusing on employment or selling tools and service training literature to technicians.
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Suppose that you have the following information about a
perfectly competitive firm:
P= $8; Q= 1000; ATC= $9; AVC= $7.8; MC= $7
Based on this information, answer the following questions.
Calculate the amount of profit the firm is currently making, firm’s current producer surplus, explain if the firm should stay in business or shut down, and can the firm increase profit by changing output level explain and show your working.
The firm can increase profit by producing more output.working:to maximize profit, the firm should produce at the quantity where mc equals mr.
1. profit calculation:total revenue (tr) = price (p) x quantity (q) = $8 x 1000 = $8000
total cost (tc) = average total cost (atc) x quantity (q) = $9 x 1000 = $9000profit = tr - tc = $8000 - $9000 = -$1000 (loss)
the firm is currently experiencing a loss of $1000.
2. producer surplus calculation:
producer surplus = total revenue (tr) - total variable cost (tvc)tvc = average variable cost (avc) x quantity (q) = $7.8 x 1000 = $7800
producer surplus = $8000 - $7800 = $200
the firm has a producer surplus of $200.
3. should the firm stay in business or shut down?since the firm is currently making a loss, it should consider shutting down in the short run if the loss exceeds its fixed costs. if the fixed costs are higher than the loss, the firm may continue operating in the short run.
4. can the firm increase profit by changing output level?
to determine if the firm can increase profit, we need to compare the marginal cost (mc) and the marginal revenue (mr). if mc < mr, increasing output can potentially increase profit.
in this case, mc = $7, which is less than the price (p) of $8. in a perfectly competitive market, the price is equal to mr.
in this scenario, the price (p) is $8, which is greater than the marginal cost (mc) of $7. by increasing output, the firm can sell additional units at a price higher than the cost of producing those units, resulting in increased profit.
however, it's important to consider the market demand and elasticity factors when deciding on the optimal output level.
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